Analyst Lance Vitanza of TD Cowen maintained a Hold rating on JCDecaux SA (0MGO – Research Report), with a price target of €20.00.
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Lance Vitanza has given his Hold rating due to a combination of factors including JCDecaux’s recent financial performance and future outlook. The company reported a solid performance in the second half of 2024, with a notable increase in EBITDA margin and a significant rise in free cash flow, which exceeded €250 million. Additionally, management’s decision to reinstate a dividend of 55 cents per share reflects their confidence in the company’s strong cash flow and financial flexibility.
Lance Vitanza’s Hold rating also considers the company’s growth guidance for the first quarter of 2025, which aligns with existing estimates, suggesting a stable but not overly aggressive growth trajectory. Although there is a slight increase in the revenue and EBITDA projections for the fiscal year 2025, these adjustments were not substantial enough to warrant a change in the Hold rating. The decision to maintain the Hold rating implies a balanced view of JCDecaux’s potential risks and rewards at this time.
In another report released yesterday, UBS also maintained a Hold rating on the stock with a €18.50 price target.